Otis Worldwide (NYSE:OTIS) Issues Quarterly Earnings Results, Hits Expectations

Otis Worldwide (NYSE:OTIS) announced its quarterly earnings data on Wednesday. The company reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01, FiscalAI reports. Otis Worldwide had a net margin of 10.11% and a negative return on equity of 29.39%. The company had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.75 billion. Otis Worldwide updated its FY 2026 guidance to 4.010-4.050 EPS.

Otis Worldwide Trading Down 2.2%

Otis Worldwide stock opened at $71.89 on Wednesday. Otis Worldwide has a 52 week low of $69.16 and a 52 week high of $101.14. The stock has a market cap of $27.59 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 2.64 and a beta of 0.90. The company’s 50-day moving average price is $72.03 and its two-hundred day moving average price is $80.27.

Analyst Ratings Changes

OTIS has been the topic of a number of research reports. Evercore initiated coverage on Otis Worldwide in a research report on Monday, April 13th. They set an “outperform” rating and a $100.00 price target on the stock. Wells Fargo & Company cut their target price on Otis Worldwide from $92.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. Morgan Stanley set a $88.00 price target on shares of Otis Worldwide in a report on Friday, April 24th. Sanford C. Bernstein assumed coverage on shares of Otis Worldwide in a report on Tuesday, June 9th. They issued an “outperform” rating and a $97.00 price objective on the stock. Finally, UBS Group set a $105.00 price objective on Otis Worldwide in a report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $96.55.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Garton & Associates Financial Advisors LLC bought a new stake in shares of Otis Worldwide in the 4th quarter worth $27,000. DV Equities LLC acquired a new position in Otis Worldwide during the fourth quarter worth about $48,000. Zions Bancorporation National Association UT raised its position in Otis Worldwide by 70.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 712 shares of the company’s stock worth $62,000 after acquiring an additional 294 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in Otis Worldwide in the second quarter worth about $116,000. Finally, Parkside Financial Bank & Trust lifted its holdings in Otis Worldwide by 12.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,468 shares of the company’s stock valued at $128,000 after acquiring an additional 159 shares during the last quarter. 88.03% of the stock is currently owned by institutional investors.

Otis Worldwide Company Profile

Otis Worldwide Corporation is a manufacturer, installer and servicer of vertical transportation systems, including elevators, escalators and moving walkways. The company designs and supplies new equipment for commercial, residential and industrial buildings, and provides ongoing maintenance and repair services aimed at maximizing equipment availability and safety. Otis also offers modernization solutions to upgrade aging systems and improve performance, accessibility and energy efficiency.

In addition to new equipment sales, a significant portion of Otis’s business derives from long-term service contracts and responsive maintenance work.